Fairmount Santrol signs lease for 165M tons of Permian Basin sand reserves [Seeking Alpha]
FAIRMONT SANTROL HOLDINGS INC (FMSA)
Last fairmont santrol holdings inc earnings: 5/3 06:00 am
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US:NYSE Investor Relations:
investors.fairmountsantrol.com/investor-relations/default.aspx
Company Research
Source: Seeking Alpha
Fairmount Santrol (NYSE: FMSA ) premarket following news it signed a 40-year lease for more than 3K acres in the Permian Basin containing reserves of ~165M tons of fine-grade sand. FMSA plans to build a mine and processing facility on the leased land with annual production capacity of ~3M tons; it expects sand production by the Q2 2018. FMSA also says it will reopen its Shakopee, Minn., mine and sand processing plant, due to increased demand; the facility will have annual capacity of ~700K tons, and the Company expects the plant to be operational by Q3. Now read: Trevali Mining - A Growing Miner As Zinc Goes Into Deficit »
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